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2008 (4) TMI 519 - HC - Income TaxProtective assessment - Income assessed under block assessment cannot be assessed again under regular assessment Business expenditure Bad and doubtful debts - Tribunal remanded matter to assessing authority Justified Business expenditure Borrowing in foreign exchange finding that loan used for purchase of plant and machinery and increased liability of assessee by reason of fluctuation of foreign exchange rate is capital in nature Tribunal reversing finding without giving reasons Order of set aside
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